Section 48 of ACA : Section 48: Conditions For Enforcement Of Foreign Awards
ACA
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Explanation using Example
Imagine a scenario where a US-based company, 'TechGlobal', entered into a contract with an Indian company, 'InnovateNow', for the supply of specialized software. The contract included an arbitration clause which stipulated that any disputes would be settled by arbitration in New York, and the laws of New York would govern the arbitration proceedings.
Disputes arose and the arbitration in New York resulted in an award in favor of TechGlobal. TechGlobal then sought to enforce this foreign arbitral award in India, where InnovateNow has its assets. InnovateNow contested the enforcement in an Indian court under Section 48 of The Arbitration ...
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